BENGALURU WEDNESDAY NOVEMBER 18, 2020 `7.00 PAGES 22 LATE CITY EDITION AT BRICS MEET, MODI TARGETS PAK FOR SPONSORING TERROR The PM said terrorism is the biggest global challenge today and countries supporting it must be dealt with an iron ﬁst ‘HOLD COUNTRIES FUNDING TERRORISM GUILTY’ INDIA WILL EMERGE A FORCE MULTIPLIER: PM Without naming Pakistan, Prime Minister Narendra Modi said, “We must tackle the problem in an organised way and have to ensure the countries that support and assist the terrorists are also held guilty.” The summit was hosted by Russian President Vladimir Putin and attended by Brazil’s Jair Bolsonaro, South Africa’s Cyril Ramaphosa and XI Jinping of China |P9 ■ ■ In his address, Modi underlined the need for reforming the United Nations Security Council as well as multilateral bodies like World Trade Organization and the International Monetary Fund Pitching the Atmanirbhar programme, Modi said a self-reliant India would prove to be a force multiplier in a post-Covid world Xi MODI SHARED STAGE WITH THE CHINESE PREZ FOR THE 2ND TIME IN A WEEK CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI SC pushes govt to frame norms on TV reportage RBI puts LVB under moratorium, Former mayor arrested proposes merger with DBS India after 3 weeks on the run DJ HALLI RIOTS CASE S E S A S E N @ New Delhi THE Reserve Bank of India on Tuesday superseded the board of directors of Lakshmi Vilas Bank (LVB), in consultation with the Centre, in view of the serious deterioration in the Chennai-based private bank’s financial position. T N Manoharan, former non-executive chairman of Canara Bank, has been appointed as the administrator. During the 30-day moratorium, the ailing bank cannot make any payment above `25,000 to depositors. However, one can withdraw more for the purposes of medical treatment, education, and marriages with RBI’s permission. Meanwhile, RBI chose a white knight for the cash-starved Chides Centre for skirting application of Cable TV Act in affidavit on Tablighi case employed by you. This affida@ New Delhi vit has nothing on it.” The Centre’s affidavit deTHE Supreme Court on Tues- fended media reporting of the day gave the Centre a piece of Tablighi event, saying it was its mind for not filing a proper largely balanced and neutral, affidavit on the media report- adding “the media has made a age tying the Tablighi Jamaat clear distinction between the congregation in Delhi organisers and attendto the Covid outbreak, ees of the Tablighi and asked it to considJamaat event and the er creating a regulalarger Muslim comtory mechanism for munity in general.” grievances against “First you did not fake news on TV . file a proper affidavit A bench headed by and then you filed an Chief Justice of India 743 orders affidavit which did to block S A Bobde faulted the not deal with the two I n f o r m a t i o n a n d fake news important questions. Broadcasting MinisThis way it cannot be , The Centre’s try’s affidavit for not affidavit said it done Mr Mehta,” the dealing with the appli- had issued 743 bench said. cability of the Cable orders in April Emphasising that T V N e t wo rk A c t alone to block s e l f - r e g u l a t i o n (CTNA) in the case. fake news over through the NBSA When Solicitor Genwasn’t good enough, multiple eral Tushar Mehta, the bench wanted to platforms to appearing for the Cenknow if the Centre preserve tre, referred to the will create a legal regcommunal News Broadcasters ulatory regime for TV harmony Standards Authority channels and slated (NBSA), a self-regulatory the next hearing after three mechanism set up by the sec- weeks. “We are not satisfied tor, the bench said: “Why with your reply We want to ... should we refer to NBSA when know what is the mechanism you have the authority to look to deal with such content on into it? If it does not exist then television... Regulation canyou create an authority We not be left to organisations ... want to know the mechanism like NBSA,” the bench said. EXPRESS NEWS SERVICE INTERVIEW F Q&A ON: P15 Regulator’s observation In absence of any viable strategic plan, declining advances and mounting NPAs, losses are expected to continue. The bank has not been able to raise adequate capital to address issues around its negative networth and continuing losses E X P R E S S N E W S S E R V I C E @ Bengaluru THE Bharatiya Janata party (BJP) has yet again made a surprise pick for the upcoming Rajya Sabha bypolls in Karnataka, scheduled to be held on December 1. Sixty-eight-year-old K Narayan, who owns a printing press in Bengaluru and has an RSS background, is the party candidate for the seat that fell vacant after BJP member Ashok Gasti succumbed to Covid-19 in September. Narayan is the publisher of ‘Sambhashana Sandesha’, the only monthly Sanskrit magazine in the country since 1994. The magazine has sub, scribers all over the world and around 15,000 copies are printed without any advertisements. P4 Karnataka announces Lingayat devpt body Kris 1st chairperson of RBI Innovation Hub ORMER RBI Governor Raghuram Rajan believes the larger portion of the Centre’s fiscal response to the Covid-19 pandemic was just relief and not stimulus. Speaking with TNIE Editorial Director Prabhu Chawla and author RAGHURAM and politiRAJAN Former RBI governor cal analyst Shankkar Aiyar at a session of Express Expressions, a series of webcasts with people who matter, Rajan said such relief measures are vital to protect the country’s economic engine but real demand stimulus would be needed down the line. “The time for stimulus will come, when the economy picks up more strongly Right . now, we are some distance away from that,” he said. He said India must concentrate on preparing to stimulate the economy through infrastructure development. ` BJP picks bizman Narayan for RS bypoll EXPRESS READ STIMULUS YET TO COME, SAYS RAJAN lender, by suggesting that LVB merge with DBS Bank India, the local unit of Singaporebased DBS Holdings. “DBIL has a healthy balance sheet with strong capital support. Although DBIL is well capitalised, it will bring in additional capital of `2,500 crore upfront, to support credit growth of the merged entity,” RBI said. The proposed merger will Mumbai: Infosys co-founder Senapathy (Kris) Gopalakrishnan has been appointed the first chairperson of the Reserve Bank Innovation Hub, which aims to promote innovation across the financial sector. P15 A S H W I N I M S R I PA D @ Bengaluru CLOSE on the heels of announcing welfare boards for the Golla and Maratha communities, the State Government on Tuesday decided to set up a Veerashaiva-Lingayat Development Corporation. The move has now triggered a demand for similar boards from representatives of other castes and communities. Senior JDS leader Basavaraj Horatti, former Congress minister M B Patil and Agriculture Minister B C Patil of the BJP had been demanding the setting up of the corporation. They are now pushing for 16 per cent reservation, on the lines of Maharashtra. Currently, the Lingayat community comes under Section 3B of the Other Backward Classes (OBC) reservation list and is entitled to 4% P7 of the total 32% reservation for OBCs. Colleges open for final-year students Bengaluru: After eight months, colleges in the state opened for final-year students on Tuesday, but the turnout was poor. Those who came were welcomed with thermal screening and hand sanitiser. P2 GOING WHERE? Worry over foreign fund deluge to NGO-run homes across India S U M I S U K A N YA D U T TA @ New Delhi A random analysis of foreign contributions to over 600 shelter homes in the South has revealed that they received funding up to `6 lakh per child per year, much of which may not have been spent on kids at all. The analysis and a report based drafted by the National Commission for Protection of Child Rights (NCPCR), has been sent to the Union Women and Child Development Ministry for further action. Most of the scrutinised shelter homes were in Tamil Nadu (274), Andhra Pradesh (145) and Kerala (107). Data accessed by this newspaper shows that Andhra Pradesh’s 145 shelter homes run by NGOs house 6,202 children. They cumulatively received over `409.5 crore as contributions from abroad in 2018-19 as per their own declaration under the Foreign Contribution Regulation Act. CONTINUED ON: P10 restore normalcy at the beleaguered bank, which is in desperate need of capital. LVB’s gross non-performing assets (NPA) stood at close to 25% at the end of the second quarter, while net NPA was at a high 7%. For the six-month period ending September, the lender’s net loss was at `594.42 crore against `256.17 crore it recorded in the year-ago period. LVB was in talks with Aion Capital-backed NBFC Clix Capital for a possible merger. A preliminary non-binding letter of intent was also signed between LVB and Clix Capital in June, months after LVB’s proposed deal with IndiaBulls Housing Finance was blocked by the banking regulator. EXPRESS NEWS SERVICE @ Bengaluru FORMER Bengaluru Mayor Sampath Raj, who was on a run for more than 20 days, has been arrested by the Central Crime Branch (CCB) police in connection with the DJ Halli riots that took place in August. The court has remanded him to police custody till Thursday . Sampath Raj, who was the corporator of the DJ Halli ward when the riots broke out, is accused of having played a key role in instigating the others to set fire to Pulakeshinagar Assembly constituency MLA Akhanda Srinivasa Murthy’s residence Sampath Raj being taken into CCB custody on Tuesday | SHRIRAM BN in Kaval Byrasandra. Police said Raj was arrested from the residence of his friend in Benson Town on Monday night. “Based on specific inputs that he was hiding at a friend’s house in Benson Town, a police team rushed there and ar rested him around 9 pm on Monday P4 .
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